ETRADE Capital Management LLC raised its position in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 2.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,200 shares of the information technology service provider’s stock after purchasing an additional 818 shares during the quarter. ETRADE Capital Management LLC’s holdings in Cognizant Technology Solutions were worth $1,917,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Creative Planning lifted its stake in Cognizant Technology Solutions by 5.8% in the 3rd quarter. Creative Planning now owns 19,761 shares of the information technology service provider’s stock worth $1,525,000 after purchasing an additional 1,089 shares in the last quarter. Alps Advisors Inc. lifted its stake in Cognizant Technology Solutions by 54.3% in the 3rd quarter. Alps Advisors Inc. now owns 15,987 shares of the information technology service provider’s stock worth $1,233,000 after purchasing an additional 5,628 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Cognizant Technology Solutions by 3.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 541,610 shares of the information technology service provider’s stock worth $41,716,000 after purchasing an additional 18,284 shares in the last quarter. Round Table Services LLC purchased a new stake in Cognizant Technology Solutions in the 3rd quarter worth approximately $208,000. Finally, Acadian Asset Management LLC lifted its stake in Cognizant Technology Solutions by 1,852.4% in the 3rd quarter. Acadian Asset Management LLC now owns 151,858 shares of the information technology service provider’s stock worth $11,716,000 after purchasing an additional 144,080 shares in the last quarter. Institutional investors own 87.23% of the company’s stock.
Shares of Cognizant Technology Solutions stock opened at $70.93 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.12 and a quick ratio of 3.12. The stock has a market capitalization of $41.28 billion, a price-to-earnings ratio of 17.64, a PEG ratio of 1.59 and a beta of 0.97. Cognizant Technology Solutions Corp has a 52-week low of $59.47 and a 52-week high of $85.10.
Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, February 6th. The information technology service provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.07. The business had revenue of $4.13 billion during the quarter, compared to analysts’ expectations of $4.11 billion. Cognizant Technology Solutions had a net margin of 13.03% and a return on equity of 22.15%. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.03 earnings per share. As a group, research analysts predict that Cognizant Technology Solutions Corp will post 4.46 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 28th. Stockholders of record on Thursday, February 21st were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, February 20th. This represents a $0.80 annualized dividend and a dividend yield of 1.13%. Cognizant Technology Solutions’s payout ratio is 19.90%.
Several equities analysts recently commented on CTSH shares. Goldman Sachs Group raised shares of Cognizant Technology Solutions from a “neutral” rating to a “buy” rating in a report on Monday, November 26th. Zacks Investment Research lowered shares of Cognizant Technology Solutions from a “hold” rating to a “sell” rating in a report on Friday, February 22nd. KeyCorp increased their target price on shares of Cognizant Technology Solutions from $79.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, February 7th. Loop Capital set a $94.00 price target on shares of Cognizant Technology Solutions and gave the stock a “buy” rating in a report on Monday, November 19th. Finally, Sanford C. Bernstein raised shares of Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a report on Friday, January 25th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $81.19.
In other news, insider Gajakarnan Vibushanan Kandiah sold 500 shares of the business’s stock in a transaction that occurred on Friday, January 18th. The shares were sold at an average price of $68.03, for a total transaction of $34,015.00. Following the completion of the transaction, the insider now directly owns 15,339 shares of the company’s stock, valued at $1,043,512.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Malcolm Frank sold 7,251 shares of the business’s stock in a transaction that occurred on Thursday, January 3rd. The shares were sold at an average price of $61.88, for a total transaction of $448,691.88. Following the transaction, the vice president now directly owns 26,289 shares of the company’s stock, valued at $1,626,763.32. The disclosure for this sale can be found here. Insiders have sold 32,241 shares of company stock valued at $2,222,521 over the last three months. 0.60% of the stock is owned by corporate insiders.
Cognizant Technology Solutions Company Profile
Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.
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